If you have large savings, money market rates at Flagstar Direct are 1.1% annual percentage yield (APY) for balances of $100,000 and up. The money market rate for balances below $100,000 is 0.6%. Money market rates are current as of April 2, 2010, and can change at any time.
Other details of the money market account include:
- Free online banking, including bill payment
- Unlimited access to account from phone, laptop, or PDA
- Visa debit card available
- Free access to a network of over 40,000 ATMs in all 50 states; other ATM networks may charge a fee
- Free incoming wire transfers to money market
You can open an express money market account with a minimum of $1 and no minimum balance requirement. You must open the account online.
Flagstar Direct also offers an online 12-month CD rate of 1.2% APY and a 36-month CD rate of 1.95%. Certificates of deposit (CDs) require a minimum opening deposit of $500 and include:
- Penalty for early withdrawal
- Interest can be withdrawn at any time after it is posted to your account
- CD automatically renews upon maturity unless you notify the bank in writing
Flagstar Bank direct is part of Flagstar Bank, which has about 160 banking centers in Michigan, Indiana, and Georgia.
- 6 Month CD %
- 1-year CD %
- 2-year CD %
- Money Market Account %
- Savings Account %
- 30-year Fixed Mortgage 3.62 %
Bank rates provided by MoneyRates.com based on average rates for deposits under $10K and conforming mortgage rates
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